EMI Group chairman Guy Hands has recruited Mark Hodgkinson, former CEO of personal finance firm Virgin Money, to the London-based major's investor and music management boards.

With immediate effect, Hodgkinson becomes EMI Music consumer development director, where he will work closely with EMI's head of digital Barney Wragg.

In a statement issued today, Hands, CEO of the music group's new parent Terra Firma, said, "Mark's time at Virgin brings a strong consumer focused approach and notable success in the digital space. We believe Mark's experience and leadership skills will prove a valuable addition to the team at EMI."

Hodgkinson, who splits with Virgin after seven years' service, says he is keen to apply his experience "to ensure that EMI has a strong consumer focus and benefits fully from the growth potential offered by digital channels."

Hands is wasting no time in restructuring the business. Since Terra Firma won backing in August to buy EMI Group in a deal valued at roughly £2.4 billion ($4.89 billion), the equity house has inserted former BBC director general John Birt and various Terra Firma directors into the EMI Group supervisory board. On the flip side, EMI group CEO Eric Nicoli and CFO Martin Stewart have split with the firm.

Earlier this week, Hands told staff in a leaked memo that labels' survival depended on the business becoming more creative with digital opportunities and relying less on CD sales.